Indian crypto exchange Wazirx is in the process of migrating the remaining assets from custodian Liminal to new multisig wallets following a security breach that resulted in the theft of over $230 million. Wazirx claims that while its own systems remain secure, the custodian’s interface was compromised, prompting this precautionary measure.
Wazirx Moves Funds to New Wallets After $230M Crypto Theft
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Wazirx Updates on Cyberattack
Wazirx, a prominent cryptocurrency exchange in India, issued an update on Wednesday via social media platform X in response to a recent security breach that resulted in the theft of over $230 million from one of its multisig wallets. The company announced:
We are in the process of migrating the remaining assets held with Liminal to new multisig wallets. This step is essential to ensure maximum security of the assets in light of recent events.
“While we believe our interface and systems remain uncompromised, the same cannot be said for the custodian’s interface post the July 18th incident, prompting this precaution,” Wazirx added.
Wazirx noted that it will publish a list of the new wallets after migration to ensure transparency. Users were also informed that they “can view all related transactions performed by the attacker after 18th July, 11:45 AM here.”
Alongside asset migration, Wazirx has stated that it is close to finishing trade reversals after the cyberattack and has received 344 bounty entries in response to the breach.
Meanwhile, Liminal has insisted that its system was not breached, stating last month on X: “Our preliminary investigations show that one of the self custody multi-sig smart contract wallets created outside of the Liminal ecosystem has been compromised. We can confirm that Liminal’s platform is not breached and Liminal’s infrastructure, wallets and assets continue to remain safe.”
What are your thoughts on Wazirx’s response to the $230 million security breach and the steps it has taken to secure assets and return funds to users? Let us know in the comments section below.
